Crypto Robot

China is moving toward cutting its trade-war tariffs on imported U.S.-made cars, a step already claimed by President Donald Trump as a concession won during trade talks in Argentina. A proposal to reduce tariffs on cars made in the U.S. to 15 percent from the current 40 percent -- bringing the U.S. back in line with what other countries pay -- has been submitted to China’s Cabinet to be reviewed in the coming days, according to people familiar with the matter. Shares of carmakers including  Daimler AG ,  Ford Motor Co.  and  Tesla Inc.  rose on the news. The step hasn’t been finalized and could still change. While reversing the retaliatory duty is a major climb-down by Beijing, it could re-focus the two sides toward implementing the trade-war truce agreed earlier this month. Relations have since been shaken by the arrest of Huawei Technologies Co. Chief Financial Officer Meng Wanzhou in connection with sanctions violations. "Last week, events seemed to conspire to throw the truce

In the cosmic collision of dreams and dread Brexit has become, one hope refuses to die: That a full-blown market panic can force politicians to overcome bitter division and agree a path to save the U.K. from economic catastrophe. It’s known as the TARP scenario, after the Troubled Asset Relief Program passed by U.S. lawmakers to avert disaster in the financial crisis. In a hint of the pressures that some investors hope could focus Westminster minds, the pound slid to the lowest since April 2017 on Monday after Prime Minister Theresa May  delayed a crunch vote  on her deal to exit the European Union, pushing the U.K. even closer to a cliff edge. “Stress in financial markets and pressure from businesses should lead to a last-minute approval of the deal in Parliament,” said Silvia Dall’Angelo, senior economist at Hermes Investment Management. Still, she admits this is a “low confidence” base case. The trouble is that, so far, the markets aren’t playing ball. Despite the pound’s drop on Mo

After one of the worst stretches in the short history of cryptocurrencies, a technical gauge is suggesting it might be time to wade back in. The Bloomberg’s Galaxy Crypto Index, which tracks major digital assets including Bitcoin, Ether and Monero, is in oversold territory based on the GTI Global Strength Indicator, which measures the strength of the price by comparing individual upward or downward movements of successive closing values. The last time the index was this oversold was in late November, it rallied about 20 percent from 242 to 290. While the bump is unlikely to be indicative of a longer-term trend, a small relief rally may be in play as the index approaches its low of the year and psychological support level of 200, the gauge suggests. The last three times the index was below this level it posted moderate increases over the following weeks. Bitcoin is down almost 50 percent since early November, and most other cryptocurrencies have mirrored its slide. The Bloomberg Galaxy

Bitmain’s IPO is the big news in the crypto world this week . The company just filed its  IPO prospectus  and the numbers are impressive, particularly the year-on-year growth between the first six months of 2018 and a year prior, which saw a near-10x jump in revenue and 7x growth in profit. Nevertheless, that aggregated six-month number may be masking what was a poor quarter of business for Bitmain. Bitmain   didn’t break out its revenue for Q1 and Q2 2018 in its prospectus, instead it blended them together with a nice looking figure for the first six months of the year, H1 2018. But we can crunch some numbers to give an idea of what it might be. TechCrunch previously reported  through sources that the company’s Q1 2018 revenue hit approximately $2 billion. Additionally,  Fortune previously reported  that the company carded a $1.1 billion profit during the same quarter, a number that’s in line with these revenue figures given that the prospectus reports a net margin of around 50 percen

With crypto markets falling ever lower many are making an exit from the space. Not all are that quick to jump ship however, and PayPal is among those looking towards cryptocurrencies, albeit private ones, starting with an incentive platform for its employees. PayPal Tokens For Coffee With The Boss The company has launched an internal private blockchain based platform for its staff to trade and exchange tokens while contributing ideas and participating in related programs designed to foster innovation. According to  Cheddar  the initiative has been built by around 25 people taking six months. PayPal has setup an internal website for employees to access their private tokens and earn more by enrolling in learning programs. The tokens are not tradable outside of the system as they are worthless to all but company workers on its own  blockchain . Historically, PayPal has been anti-crypto and has not accepted it on its merchant platform due to volatility issues. These price fluctuations woul